Concurrent Investment Advisors LLC Makes New $207,000 Investment in CyberArk Software Ltd. $CYBR

Key Points

• Concurrent Investment Advisors LLC has made a new investment of approximately $207,000 in CyberArk Software Ltd. by purchasing 510 shares in the second quarter.
• Multiple hedge funds, including Invesco Ltd. and Price T Rowe Associates Inc., have significantly increased their stakes in CyberArk Software, reflecting growing institutional interest.
• Wall Street analysts have mixed views on CyberArk Software, with a range of price targets and ratings, but an average target price of $448.85 and a majority rating of "Hold."

Concurrent Investment Advisors LLC purchased a new position in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 510 shares of the technology company's stock, valued at approximately $207,000.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. increased its position in shares of CyberArk Software by 12.2% in the first quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company's stock valued at $381,904,000 after acquiring an additional 122,423 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of CyberArk Software by 1,598.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock valued at $330,964,000 after acquiring an additional 921,523 shares during the period. Voya Investment Management LLC increased its position in shares of CyberArk Software by 0.7% in the first quarter. Voya Investment Management LLC now owns 888,898 shares of the technology company's stock valued at $300,448,000 after acquiring an additional 6,314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of CyberArk Software by 82.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 740,504 shares of the technology company's stock valued at $250,290,000 after acquiring an additional 335,634 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of CyberArk Software by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 675,032 shares of the technology company's stock valued at $228,161,000 after acquiring an additional 106,435 shares during the period. 91.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CYBR shares. Needham & Company LLC boosted their price objective on shares of CyberArk Software from $460.00 to $551.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Guggenheim cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 price objective on the stock. in a research report on Thursday, July 31st. Rosenblatt Securities cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $445.00 price objective on the stock. in a research report on Friday, August 1st. Barclays restated an "equal weight" rating and issued a $520.00 price objective (up previously from $440.00) on shares of CyberArk Software in a research report on Tuesday, October 14th. Finally, William Blair cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $448.85.

CyberArk Software Price Performance

Shares of CYBR opened at $500.49 on Tuesday. The stock has a market cap of $25.26 billion, a PE ratio of -148.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.31 and a current ratio of 2.31. CyberArk Software Ltd. has a fifty-two week low of $271.68 and a fifty-two week high of $514.28. The firm's 50-day simple moving average is $468.89 and its two-hundred day simple moving average is $407.75.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. The business had revenue of $328.03 million for the quarter, compared to analysts' expectations of $315.43 million. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The business's revenue was up 46.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. Analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

CyberArk Software Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.

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